Policies and Procedures

Policies and Procedures Regarding

Assessment Collection, Delinquency, Liens, and Foreclosure Actions

Annual Assessments are due each year by January 31st and become delinquent on February 1st of the same fiscal year.

Special and Individual Assessments (Architectural Standards, Covenant Assessments, Fines, and Inspection Fees) are due thirty (30) days after invoicing and delinquent after thirty-one (31) days.

Delinquent accounts are subject to the following schedule of procedures and charges. (The actions indicated below will not be taken until at least the date specified but may occur later due to scheduling considerations.) Interest Amount: Equal to the maximum allowed by Montana law.

TIMELINESS OF PAYMENTS

In relation to the imposition of penalties, etc., in accordance with this schedule shall be determined by:

Official USPS postmark date appearing on the envelope in which a payment is received through the mail (private postage meter dates are ignored).
Any other method of delivery (i.e., hand-delivered payments, overnight services, electronic payments) are considered delivered on date of receipt of payment. Send payments to:

Price Hills Homeowners Association
PO Box 776
Manhattan, MT 59741

APPLICATION OF PAYMENTS

It is the Association’s policy to apply payments received as follows:

First, to the oldest unpaid Assessment.

Second, to the Interest and Penalties related to that oldest unpaid Assessment. (Delinquency Fee, Lien Fee, Costs of collection, etc.)

Next, to the second-oldest Assessment, followed by the Interest and Penalties related to that second-oldest Assessment.

This sequence continues until the most recent Assessment is paid, the Interest and Penalties related to that
most recent Assessment are then paid.

GENERAL PAYMENT TERMS

All returned check and bank charges, incurred in connection with efforts to collect any delinquency owed to the Association, whether litigation commences, shall be treated as common expense assessments against the account and shall be the account member’s responsibility.

There is a $35 charge for returned checks, plus any bank charge to the Association. After two (2) returned checks per unit, all subsequent payments for a period of twelve (12) consecutive months must be made via ACH or online credit card transaction (convenience fee applies).

When a member’s account has been referred to the collections department or legal counsel for collection:

All communications with, and payments by, the account member regarding the delinquency shall be made only to the collection agency or legal counsel.
Diligent effort will be made to forward any payment made directly to the Association to legal counsel or the collection agency without being deposited by the Association. In no way does acceptance of a partial payment on an account in collections suspend the collection process.

Checks with restrictive endorsements (accord and satisfaction) will be returned to the payer and not accepted.

If the Declarant/President approves a payment plan, all fees and costs incurred during the life of the plan remain the responsibility of the account member.

Partial payments will not suspend collection activity.

ANNUAL ASSESSMENT

February 1:	DELINQUENT Assessment FEE (10 % of the assessment balance) is charged to the account. INTEREST BEGINS TO ACCRUE(Interest1) on the delinquent assessment balance.
	NOTICE OF SUSPENSION OF MEMBERSHIP RIGHTS (eligibility for candidacy to serve as a director or committee member, to vote in any election, to access the amenities as a member) for failure to pay the assessment. Effective date of suspension of membership rights shall remain in effect until the account is brought current. Notice will be sent to Owner(s) of Record via email.
	NOTICE OF MEMBER’S RIGHT TO A HEARING thereon. If requested, hearing on suspension of Membership rights must be completed at least five days prior to the Assessment Lien being recorded against property. Notice will be sent to Owner(s) of Record via email.
March 2:	Assessment LIEN FILING FEE ($250) is charged to the account. Assessment LIEN RECORDED AGAINST PROPERTY For delinquent Assessments. Notice will be sent to Owner(s) of Record via Certified US Postal Mail.
	INTEREST BEGINS TO ACCRUE(Interest2) on the delinquent assessment fee . INTEREST IS INVOICED(Interest1) for the delinquent assessment balance.
	COLLECTIONS/LEGAL RECOURSE Delinquent Annual Assessment accounts become subject to all appropriate collections/legal recourse, including FORECLOSURE of the assessment lien, to recover amounts owed. A $39.00 per month collection monitoring fee will be added to an account in collections/legal recourse, subject to monthly interest after 30 days. These charges are in addition to the collection/legal fees. All costs and fees related to such actions, including attorneys’ fees, become the property owner’s obligation.
April 1:	INTEREST BEGINS TO ACCRUE(Interest3) on the Assessment lien filing fee. INTEREST IS INVOICED(Interest2) for the delinquent assessment fee INTEREST IS INVOICED(Interest1) for the delinquent assessment balance.
May 1:	INTEREST IS INVOICED(Interest3) on the Assessment lien filing fee. INTEREST IS INVOICED(Interest2) for the delinquent assessment fee INTEREST IS INVOICED(Interest1) for the delinquent assessment balance.

SPECIAL AND INDIVIDUAL ASSESSMENT(S)

Days After Due Date
30 Days	DELINQUENCY FEE (10 % of assessment balance) is charged to the account.
	NOTICE OF SUSPENSION OF MEMBERSHIP RIGHTS (eligibility for candidacy to serve as a director or committee member, to vote in any election, to access the amenities as a member) for failure to pay the assessment. Effective date of suspension of membership rights shall remain in effect until the account is brought current. Notice will be sent to Owner(s) of Record via email.
	NOTICE OF MEMBER’S RIGHT TO A HEARING thereon. If requested, hearing on suspension of Membership rights must be completed at least five days prior to the Assessment Lien being recorded against property. Notice will be sent to Owner(s) of Record via email.
60 Days	LIEN FILING FEE ($250) is charged to the account. LIEN RECORDED AGAINST PROPERTY Notice will be sent to Owner(s) of Record via Certified US Postal Mail.
	INTEREST BEGINS TO ACCRUE on the delinquency fee balance. INTEREST BEGINS TO ACCRUE on the delinquent assessment balance.
	COLLECTIONS/LEGAL RECOURSE Delinquent Assessment accounts become subject to all appropriate collections/legal recourse, including FORECLOSURE of the assessment lien, to recover amounts owed. A $39.00 per month collection monitoring fee will be added to an account in collections/legal recourse, subject to monthly interest after 30 days. These charges are in addition to the collection/legal fees. All costs and fees related to such actions, including attorneys’ fees, become the property owner’s obligation.
90 Days	INTEREST BEGINS TO ACCRUE on the lien filing fee balance.

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Policies and Procedures

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